The September 2010 edition of The Global Financial Centres Index (GFCI), which provides profiles, ratings and rankings for 75 financial centres, highlighted a familiar trend noting that Asian centres continue to exhibit good growth with Shanghai entering the top 10 and Seoul gaining four places and moving into the top 25 for the first time.
Cayman vehicles have played a significant role in bringing foreign capital to China over the past two decades and continue to do so despite the changing regulatory environment – and now they are being used to take Chinese capital to the world.
Both Cayman and the BVI play a huge role in offshore regional business and finance and there are significant capital flows between Caribbean offshore jurisdictions and in the People’s Republic of China (PRC)
If one searches “western misunderstanding of China” in Chinese language at Baidu, the Chinese equivalent to Google, you would find more than 250,000 entries.
In an article that I wrote for the April 2010 issue of Cayman Financial Review, I set out the reasons why I share Buffett’s view, except that I explained why it applies to the broader Asia ex Japan region that comprises nearly half the world’s population.